TradeStation Review
OVERALL SCORE
4.0
SCORE SUMMARY
Commissions & Fees
Platform & Tools
Research
Mobile Trading
Pros
- Commission-free trading on many stocks, ETFs, options and futures
- No minimum deposit to open a TradeStation Securities account
- Allows users to backtest and automate strategies
- Extensive educational material for novice traders and investors
Cons
- Commission-free stock and ETF trades max out at 10,000 shares
- Limited investment research for individual stocks, mutual funds, bonds, or ETFs
- Long wait times for customer service
- Platform can be technical for novices
Let’s take a look at TradeStation, one of the most popular online brokers out there. TradeStation has been around for a while, and it’s earned a reputation for being a reliable and trustworthy platform for traders of all levels. So why should you choose TradeStation?
Pricing
TradeStation’s pricing structure is competitive, with low commissions and no account minimums. The web, mobile and desktop platforms are free to use. Stocks, ETFs, stock options, futures, micro futures, futures options are all $0 commission. Stock options cost $0.60 per contract, futures cost $1.50 per contract, per side, micro futures cost $0.50 per contract, per side, and futures options cost $1.50 per contract, per side.
Powering ideas for beginners
TradeStation has a few features that are great for beginners and professional traders alike that help to generate trade ideas without the hassle of scanning the internet or constantly staying up to date with the latest finance news. The first stand out feature is Hot Lists which is available on desktop, mobile and in-app. Hot Lists are customizable and can display securities that meet a specific set of criteria, such as the top 25 stocks with highest volume of trades within a certain exchange. TradeStation has a powerful scanning tool called RadarScreen that scans global markets in real-time to discover unique trading opportunities. With RadarScreen®, traders can monitor and track dozens of symbols with the technical indicators that they want to look at, at the intervals they want to look at, all in real time, all in one window.
TradeStation also provides a variety of charting tools that can help traders measure and analyze market movement, backtest and manage rule-based trading, and monitor orders and current positions.
TradeStation Learn provides a variety of resources to help traders improve their skills and knowledge of the markets. The platform includes a wide range of educational videos, webinars, and interactive courses that cover topics such as technical analysis, trading strategies, market psychology, and more.
The benefit for beginner traders who start with TradeStation is that they are using professional trading tools from the beginning, and as they learn the basics, they will have the ability to grow and progress with TradeStation. It can be a lot to digest and there are quick videos to guide traders through it all. Learn now!
Assets
TradeStation offers a wide range of assets that can be traded through its platform. These include:
- Stocks: TradeStation allows traders to buy and sell stocks listed on major US exchanges such as the NYSE, NASDAQ, and AMEX.
- Options: Traders can trade options contracts on stocks, ETFs, and indices.
- Futures: TradeStation offers futures trading on a wide range of commodities, currencies, and indices.
- ETFs: TradeStation offers trading on a wide variety of ETFs listed on major US exchanges.
Customers say
Customers who use TradeStation generally have positive things to say about the company’s platform and services. Traders praise the platform’s advanced charting capabilities, fast execution times, and wide range of asset classes. The company’s educational resources and community of traders are also highly regarded, providing a supportive environment for traders of all levels. Some customers have noted that TradeStation’s pricing can be higher than other online brokers, but they feel that the quality of the platform and services justifies the cost.
Although TradeStation’s trading simulator uses simulated currency, it is only available to customers who have funded their TradeStation brokerage account.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means. y apply.